Steel Imports Holding Strong, Reach 17-Month High in June

Final Census data shows that total foreign steel imports increased 16% from May to June, reaching 2.93 million tons. As stated in our preliminary import analysis, this is now the highest monthly import level of 2021, surpassing the April high. The last time monthly import levels exceeded this rate was January 2020 when 3.16 million tons of steel entered the country.

July import licenses are currently at 2.85 million tons as of Aug. 5, 3% less than June but up 13% compared to May. Total finished imports were finalized at 2.13 million tons in June, the highest level seen since January 2019 when they reached 2.46 million tons. Finished steel import licenses for July are currently at 2.02 million tons, up from 1.53 million tons just last week.